Savant Capital LLC Sells 83 Shares of Texas Pacific Land Corporation $TPL

Savant Capital LLC trimmed its stake in shares of Texas Pacific Land Corporation (NYSE:TPL) by 22.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 291 shares of the financial services provider’s stock after selling 83 shares during the quarter. Savant Capital LLC’s holdings in Texas Pacific Land were worth $307,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TPL. Harvest Fund Management Co. Ltd increased its holdings in Texas Pacific Land by 338.3% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 526 shares of the financial services provider’s stock valued at $696,000 after buying an additional 406 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Texas Pacific Land by 3,246.7% during the 1st quarter. Brooklyn Investment Group now owns 502 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 487 shares during the period. Strategy Asset Managers LLC acquired a new stake in shares of Texas Pacific Land during the 1st quarter worth approximately $576,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of Texas Pacific Land during the 1st quarter worth approximately $16,297,000. Finally, Jump Financial LLC increased its stake in Texas Pacific Land by 151.6% in the first quarter. Jump Financial LLC now owns 561 shares of the financial services provider’s stock valued at $743,000 after acquiring an additional 338 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock opened at $918.10 on Wednesday. The company’s 50 day moving average price is $939.32 and its two-hundred day moving average price is $1,019.21. The firm has a market capitalization of $21.10 billion, a P/E ratio of 45.77 and a beta of 1.12. Texas Pacific Land Corporation has a fifty-two week low of $845.56 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.77 by ($0.50). The firm had revenue of $203.10 million during the quarter, compared to the consensus estimate of $175.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, December 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 30.92%.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Eric L. Oliver purchased 100 shares of Texas Pacific Land stock in a transaction dated Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the completion of the acquisition, the director owned 393,600 shares in the company, valued at approximately $346,867,872. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TPL. Tudor Pickering upgraded Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.